Rockefeller Capital Management L.P. Sells 172,489 Shares of Kyndryl Holdings, Inc. $KD

Rockefeller Capital Management L.P. lowered its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 30.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 400,296 shares of the company’s stock after selling 172,489 shares during the quarter. Rockefeller Capital Management L.P. owned 0.18% of Kyndryl worth $10,632,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Corient Private Wealth LLC increased its stake in Kyndryl by 4.0% in the fourth quarter. Corient Private Wealth LLC now owns 51,983 shares of the company’s stock worth $1,381,000 after purchasing an additional 2,016 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Kyndryl by 421.2% during the fourth quarter. Hsbc Holdings PLC now owns 248,130 shares of the company’s stock valued at $6,558,000 after purchasing an additional 200,522 shares during the period. Invesco Ltd. boosted its stake in shares of Kyndryl by 26.6% during the fourth quarter. Invesco Ltd. now owns 2,213,986 shares of the company’s stock valued at $58,803,000 after purchasing an additional 465,539 shares during the period. Empowered Funds LLC grew its holdings in shares of Kyndryl by 4.9% in the fourth quarter. Empowered Funds LLC now owns 67,083 shares of the company’s stock worth $1,782,000 after purchasing an additional 3,118 shares during the last quarter. Finally, XTX Topco Ltd grew its holdings in shares of Kyndryl by 216.9% in the fourth quarter. XTX Topco Ltd now owns 126,019 shares of the company’s stock worth $3,347,000 after purchasing an additional 86,255 shares during the last quarter. Institutional investors own 71.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Kyndryl in a report on Monday, June 15th. Morgan Stanley dropped their target price on shares of Kyndryl from $28.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 24th. Scotiabank reduced their target price on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a research report on Friday, May 8th. BMO Capital Markets started coverage on shares of Kyndryl in a research note on Monday, April 20th. They set a “market perform” rating and a $15.00 price target for the company. Finally, Wall Street Zen lowered Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Six research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $22.14.

Kyndryl Stock Performance

Shares of Kyndryl stock opened at $11.10 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.77. The stock’s fifty day moving average price is $12.39 and its 200-day moving average price is $16.79. The firm has a market cap of $2.45 billion, a P/E ratio of 13.06 and a beta of 1.66. Kyndryl Holdings, Inc. has a 12 month low of $10.10 and a 12 month high of $44.20.

Kyndryl (NYSE:KD) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.25). Kyndryl had a return on equity of 20.43% and a net margin of 1.31%.The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same period last year, the company earned $0.52 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. On average, equities research analysts expect that Kyndryl Holdings, Inc. will post 1.54 earnings per share for the current fiscal year.

About Kyndryl

Kyndryl (NYSE: KD) is a global managed infrastructure services provider formed in November 2021 through the spin-off of IBM’s Managed Infrastructure Services business. The company designs, builds, manages and modernizes critical information technology systems for enterprises worldwide. Kyndryl’s core offerings include cloud migration and management, network and edge computing solutions, digital workplace services and IT resiliency and security capabilities.

With a workforce of approximately 90,000 professionals and operations in more than 60 countries, Kyndryl serves clients across a broad range of industries, including financial services, telecommunications, healthcare, manufacturing and retail.